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BNDES Credit will charge interest rates for companies that meet environmental or social goals
A company that is attentive to its environmental, social and governance performance, or ESG, as it is internationally known, will have a direct impact on cash. The National Development Bank Economic and Social (BNDES), is offering better financing conditions for assuming and fulfilling social or environmental goals.
It's about the program BNDES ASG Credit, which will allocate funding for any purpose, to companies that manage to improve their sustainability index or comply with social actions. Financing will have lower interest rates.
How BNDES Credit works
Initially, the BNDES Credit ASG will be allocated to five categories: wood chain aimed at reforestation, manufacturers of equipment for the renewable energy and energy efficiency chain, mining and steel. The reason is that these sectors have many points to improve in terms of sustainability. The fifth sector is small internet provider companies, having a greater social impact than environmental.
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The BNDES hopes that with positive results from the project, it will be possible to increase the number of sectors that will benefit from the program in the future: “This is a program that expresses the BNDES' desire to contribute to companies that want to accelerate their social and environmental commitments, in line with society's increasingly concrete desire to have a more sustainable Brazil”, highlighted Petrônio Cançado, Director of Credit and Infrastructure at the Bank.
the budget of project is R$ 1 billion. Each category will have R$ 150 million available. Companies interested in the program must apply to participate directly with the BNDES. Payment can be made in up to 96 installments, with a grace period of up to 24 months.
